Property Overview: 1040 Talbot Avenue, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home in East Elmwood, built in 1955. With 744 sqft of living space, it is notably smaller than average for the city, but it sits on a standard city lot of just over 4,000 sqft. A key feature is its renovated basement, adding functional space, and it includes a detached garage. The home’s assessed value of $260k is above average for its immediate street and aligns with the neighbourhood average, suggesting it is well-maintained relative to its size and age.
Its primary appeal lies in its efficiency and lot potential. It suits first-time buyers, downsizers, or investors seeking an affordable entry into the Winnipeg market with a solid foundation. The renovated basement adds immediate utility, while the proportionate lot offers room for gardening, storage, or future expansion. A thoughtful perspective is that its smaller footprint translates to lower utility costs and less maintenance, appealing to those seeking a simpler, more manageable lifestyle without sacrificing outdoor space. It represents value not in sheer size, but in prudent upgrades and land ownership in an established area.
Frequently Asked Questions
1. Is the house too small?
At 744 sqft, the living area is compact. However, the renovated basement effectively doubles the usable space, making it practical for a small household or an individual.
2. How does the assessed value compare?
The $260k assessment is strong for the street (top 29%) and average for East Elmwood. This indicates the property is likely in good condition relative to nearby homes, even though it's smaller than the citywide average.
3. What does the lot size offer?
The 4,170 sqft lot is standard for the area. It provides good outdoor space for a home of this size, with room for a garden, play area, or a detached garage/workshop.
4. Is a home from 1955 a concern?
The build year (1955) is older than most on its street but typical for the neighbourhood. A thorough inspection is recommended to understand the condition of major aging components like the roof, wiring, and plumbing, especially considering the recent basement renovation.
5. Who would this property suit best?
It's ideal for a first-time buyer, a downsizer looking to reduce maintenance, or an investor. Its value is in its affordability, updated basement, and land, rather than in spacious living quarters.